SEBI Suspects Internal Funding During Gitanjali Gem's IPO Period
  • Saba Ashraf
  • Jul 02 2013

A 60% fall in Gitanjali Gems’ stock price in the last 10 days has not escaped the attention of market regulator SEBI. Bloomberg TV India learns that SEBI’s surveillance department has taken up the matter and sought reports from exchanges on the stock's sharp price movement. The markets regulator's probe has revealed that there might have been a case of internal funding of as much as Rs.75-100 crore during Gitanjali’s IPO period.